News

LME cobalt developing trade

London Metal Exchange (LME) has chosen Antwerp (Belgium) as the fourth place for the storage of cobalt and included in its network of two warehouses in the city. Now, any of the buyers of cobalt on the LME will be able to get it from warehouses in Antwerp on 22 October this year.

This decision is a further step in the strategy for the development of LME cobalt exchange trading, which started on February 22, 2010 As of September 6, it was sold 4,759 thousand. Lots of cobalt. Currently, the metal is stored in warehouses in Baltimore, Rotterdam and Singapore.

«Trafficking in small metal started relatively recently, but during this time showed an upward trend. The development of our network of warehouses on a level with the involvement of a large number of brands are a major factor to strengthen the position of a contract for the cobalt as a tool for price risk management. Certification of new warehouses in Antwerp has become a new stage in this process «, — said Chris Evans (Chris Evans), Director of Business Development LME.